{"id":555860,"date":"2021-11-30T04:02:28","date_gmt":"2021-11-30T04:02:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=555860"},"modified":"2025-12-16T01:04:24","modified_gmt":"2025-12-16T01:04:24","slug":"sodic-board-gives-nod-to-aldar-adq-acquisition-bid","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/","title":{"rendered":"SODIC board gives nod to Aldar \/ ADQ acquisition bid"},"content":{"rendered":"<section id=\"555862\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555862\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/this-morning-the-world-isnt-sure-what-to-make-of-omicron-no-pre-umrah-quarantine-for-people-with-approved-jabs\/\">\r\n                            THIS MORNING: The world isn\u2019t sure what to make of Omicron; No pre-Umrah quarantine for people with approved jabs.                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/this-morning-the-world-isnt-sure-what-to-make-of-omicron-no-pre-umrah-quarantine-for-people-with-approved-jabs\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/this-morning-the-world-isnt-sure-what-to-make-of-omicron-no-pre-umrah-quarantine-for-people-with-approved-jabs\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/this-morning-the-world-isnt-sure-what-to-make-of-omicron-no-pre-umrah-quarantine-for-people-with-approved-jabs\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: The world isn\u2019t sure what to make of Omicron; No pre-Umrah quarantine for people with approved jabs.&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/this-morning-the-world-isnt-sure-what-to-make-of-omicron-no-pre-umrah-quarantine-for-people-with-approved-jabs\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/this-morning-the-world-isnt-sure-what-to-make-of-omicron-no-pre-umrah-quarantine-for-people-with-approved-jabs\/&title=THIS MORNING: The world isn\u2019t sure what to make of Omicron; No pre-Umrah quarantine for people with approved jabs.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+The+world+isn%E2%80%99t+sure+what+to+make+of+Omicron%3B+No+pre-Umrah+quarantine+for+people+with+approved+jabs.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Fthis-morning-the-world-isnt-sure-what-to-make-of-omicron-no-pre-umrah-quarantine-for-people-with-approved-jabs%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/this-morning-the-world-isnt-sure-what-to-make-of-omicron-no-pre-umrah-quarantine-for-people-with-approved-jabs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555862\" class=\"content-area-description single-story post-555862 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-china tag-covid-19 tag-enterpriseam tag-financial-markets tag-g7 tag-jerome-powell tag-joe-biden tag-saudi-arabia tag-twitter tag-us tag-vaccines tag-what-were-tracking-today tag-world-health-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, friends, and welcome to the last day of November. <\/strong>We hope the penultimate month of the year has been kind to you \u2014 and that you\u2019re looking forward to the end of 2021 as much as we are. The past eleven months (heck, the past 91 weeks\u2026) have, in news terms, been like drinking from a firehose.<\/p>\n<p><strong>Because there is often no justice in the world: <\/strong>Liverpool icon Mohamed Salah came in seventh in voting for <a href=\"https:\/\/www.lequipe.fr\/France-Football\/Actualites\/Le-classement-du-ballon-d-or-france-football-2021\/1302150\">France Football\u2019s 2021 Ballon d\u2019Or<\/a>. The closely watched vote on the best men\u2019s football player in the world saw Lionel Messi take the top spot, while Salah (with 121 votes) came in behind Cristiano Ronaldo (178) and ahead of #8 Kevin De Bruyne of Manchester City (73 votes). The France Football poll is voted on by sports journalists from around the world; <strong>Salah is the top goal-scorer this season in the English Premier League.<\/strong><\/p>\n<p><strong>PSA #1- It looks like we\u2019re starting the final day of this heat wave<\/strong>, with the mercury due to ease to 29\u00b0C today. Let\u2019s hope the falling temperature takes with it the pollution that has blanketed our fair city since the start of the week. Look for daytime highs of 22\u00b0C from Wednesday through to the end of next week, our favourite weather app tells us.<\/p>\n<p><strong>PSA #2- A reminder<\/strong> that you won\u2019t be able to get into a bank, post office branch or government facility from Wednesday onward without proof of vaccination or a negative PCR test. Unvaccinated students will also be prevented from accessing university campuses.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a><strong> OMICRON WATCH- Biden is trying to un-break the glass:<\/strong> The US president yesterday tried to temper fears of the new covid variant, telling the country that the mutation is a \u201ccause for concern, not a cause for panic.\u201d (<a href=\"https:\/\/www.politico.com\/news\/2021\/11\/29\/biden-omicron-523449\">Politico<\/a> | <a href=\"https:\/\/www.nytimes.com\/2021\/11\/29\/us\/politics\/biden-vaccines-omicron.html\">NYT<\/a> | <a href=\"https:\/\/apnews.com\/article\/coronavirus-pandemic-joe-biden-health-infectious-diseases-anthony-fauci-44fab8b3448ad31f0865aebb26f91741\">AP<\/a>)<\/p>\n<p><strong>A new warning from the WHO might make his job harder:<\/strong> The World Health Organization is warning that the threat posed by the Omicron covid variant is \u201cvery high\u201d and that the mutation could have \u201csevere consequences\u201d if it spreads. (<a href=\"https:\/\/apnews.com\/article\/coronavirus-pandemic-omicron-variant-covid-restrictions-82e53a7a17d1a4c30031065d389bda37\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/omicron-poses-very-high-global-risk-countries-must-prepare-who-2021-11-29\/\">Reuters<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2021\/11\/29\/who-omicron-variant-global-risk\/\">Washington Post<\/a>)<\/p>\n<p><strong>As is Fed chief Jerome Powell<\/strong>, who will today warn US lawmakers that the new variant poses a major threat to the American economy. \u201cThe recent rise in covid-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation,\u201d he will tell the Senate banking committee. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-29\/powell-says-omicron-adds-economic-risks-inflation-uncertainty?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/edition.cnn.com\/2021\/11\/29\/economy\/omicron-jerome-powell\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/new-omicron-variant-exacerbates-inflation-uncertainty-powell-says-11638221432\">WSJ<\/a>)<\/p>\n<p><strong>TAKE THIS WITH A GRAIN OF SALT, but \u2026 the doc who first alerted authorities to Omicron thinks <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-29\/doctor-who-saw-omicron-early-says-symptoms-different-to-delta?srnd=premium-middle-east&sref=mmeFTDW1\">the bug may be a \u201cmild\u201d strain<\/a><\/strong> based on the symptoms she is seeing her patients.<\/p>\n<p><strong>That emergency G7 meeting yesterday doesn\u2019t seem to have achieved much:<\/strong> No new vaccine commitments to the developing world, no containment strategy. There are some words in <a href=\"https:\/\/www.gov.uk\/government\/news\/g7-joint-statement-on-the-omicron-variant\">the joint statement<\/a>.<\/p>\n<p><strong>You can\u2019t say the same thing about China<\/strong>, which yesterday pledged to donate another 1 bn vaccines to Africa to help it fight the virus. (<a href=\"https:\/\/www.france24.com\/en\/live-news\/20211129-china-leader-promises-africa-1-bn-covid-vaccine-doses\">AFP<\/a>)<\/p>\n<p><strong>Still: Volatility in global markets eased yesterday<\/strong> as investor concerns about the economic consequences of Omicron seemed to ease. Stocks in Europe, the US and the Middle East all rebounded following last week\u2019s sell-off, while oil prices steadied from the 11% plunge on Friday.<\/p>\n<p><strong>Asian markets are continuing where the US left off this morning<\/strong>, with stocks across the region in the green. Shares in the US and Europe will see early gains when the markets open later today, according to the futures markets.<\/p>\n<p><strong>ALSO MAKING NEWS ABROAD-<\/strong> Jack Dorsey has stepped down as the head of Twitter and is being replaced by CTO Parag Agrawal. Jack is complicated, and the share has underperformed relative to its tech peers. But still: <strong>Investors <\/strong><strong><a href=\"https:\/\/www.vanityfair.com\/news\/2021\/11\/twitter-did-jack-dorsey-quit-or-was-he-fired\">booting out a founder<\/a><\/strong><strong> feels an awful lot like the state taking away your kid. <\/strong>The global press is all over this: <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-29\/twitter-jumps-on-dorsey-exit-stock-lagged-indices-in-his-tenure?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.cnbc.com\/2021\/11\/29\/twitter-ceo-jack-dorsey-is-expected-to-step-down-sources-say.html\">CNBC<\/a> | <a href=\"https:\/\/www.ft.com\/content\/bf45fd08-51d1-41bb-82cd-b3157a5da055\">FT<\/a> | <a href=\"https:\/\/www.bbc.co.uk\/news\/technology-59465747\">BBC<\/a>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>You won\u2019t need to quarantine before Umrah if your jab is Saudi-approved: <\/strong>Travelers from Egypt who are fully vaccinated with a Saudi-approved vaccine can begin their pilgrimage right away without needing to quarantine, the <a href=\"https:\/\/www.facebook.com\/KSAembassyEG\/posts\/1918679278333664\">Saudi Embassy in Cairo<\/a> said. The <a href=\"https:\/\/eservices.moh.gov.sa\/CoronaVaccineRegistration\">kingdom-approved vaccines<\/a> are the Pfizer, AstraZeneca, Moderna, and J&J jabs. Sinopharm and Sinovac vaccines \u2014 which are cleared by the WHO \u2014 are only approved for entry into Saudi if you\u2019ve had a booster shot. Travelers who haven\u2019t received boosters for Sinopharm or Sinovac will need to quarantine for three days and present a negative PCR test after 48 hours.<\/p>\n<p><strong>Germany\u2019s KfW<\/strong><strong> Development Bank is launching today its open call for <\/strong><strong>(largely green)<\/strong><strong> project <\/strong><strong>proposals in Egypt as <\/strong><strong>part of their <\/strong><strong><a href=\"http:\/\/enterprisemea.com\/wp-content\/uploads\/2021\/11\/2021-11-08_FINAL_EGY-ONLY-announcement-en-1.pdf\">investing for employment facility (pdf)<\/a><\/strong>, which will give grants to projects that drive job creation. You can learn how to apply <a href=\"https:\/\/invest-for-jobs.com\/en\/investing-for-employment#top\">here<\/a>.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo (EDEX)<\/a><\/strong><strong> continues today<\/strong> and runs until this Thursday, 2 December. Some 400 international manufacturers and suppliers are showcasing military equipment and defense technologies at New Cairo\u2019s International Exhibition Center.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>TOMORROW- <\/strong><strong>It\u2019s a new month.<\/strong> The key news triggers to keep your eye on at the start of December:<\/p>\n<ul>\n<li><strong>PMI:<\/strong> Purchasing managers\u2019 index figures for November for Egypt, Saudi Arabia, and Qatar will be released on Sunday, 5 December. Figures for the UAE, which normally come out on the same day as Egypt and Saudi, will be released two days later on Tuesday, 7 December.<\/li>\n<li><strong>Foreign reserves:<\/strong> November\u2019s foreign reserves figures will be released during the first week of the month.<\/li>\n<li><strong>Inflation:<\/strong> Inflation figures for November will be released on Thursday, 9 December. Data for inflation typically appears on the 10th of every month, but is moved up one day if that falls on a Friday.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt\u2019s Monetary Policy Committee will hold its final meeting for the year to review interest rates on Thursday, 16 December.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Young professionals can now apply for the recently-launched McKinsey Forward <\/strong><strong>program <\/strong>which focuses on leadership, business, and the transition to digital, McKinsey announced in a <a href=\"https:\/\/ent.news\/2021\/11\/Forward-Launch-Press-Release_ENG.pdf\">press release (pdf)<\/a>. The six-month program aims to teach participants how their business can combat challenges and use them to their advantage, integrate tech, and be adaptable and resilient during times of change. Forward will be available without charge to those eligible to apply, and one of the requirements is having less than five years of work experience. You can apply <a href=\"https:\/\/www.mckinsey.com\/forward\/locations\/middle-east\">via this link<\/a> before the 12 December deadline.<\/p>\n<p><strong>The new round of Silicon Waha\u2019s Startup Factory will kick off<\/strong> on 10 December at the Assiut Technology Zone. The program will offer marketing tips and tricks for startup founders, who can apply <a href=\"https:\/\/bit.ly\/Startupfactory\">here<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> There\u2019s a massive data gap when it comes to reporting global emissions, which could severely undermine efforts to address climate change by reducing net emissions, a Washington Post investigation has found. In addition to only a fraction of the world\u2019s nations reporting their emissions to COP, many of the measurements and figures that are being reported are less than accurate.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g7\/\">G7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jerome-powell\/\">Jerome Powell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/twitter\/\">Twitter<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555863\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"555863\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/555863\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555863\" class=\"content-area-description single-story post-555863 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/Soma-Oceanman1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555864\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555864\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/sodic-approves-aldar-offer-despite-falling-short-of-fair-value-report-benchmark\/\">\r\n                            SODIC approves Aldar offer despite falling short of fair value report benchmark                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/sodic-approves-aldar-offer-despite-falling-short-of-fair-value-report-benchmark\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/sodic-approves-aldar-offer-despite-falling-short-of-fair-value-report-benchmark\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/sodic-approves-aldar-offer-despite-falling-short-of-fair-value-report-benchmark\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=SODIC approves Aldar offer despite falling short of fair value report benchmark&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/sodic-approves-aldar-offer-despite-falling-short-of-fair-value-report-benchmark\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/sodic-approves-aldar-offer-despite-falling-short-of-fair-value-report-benchmark\/&title=SODIC approves Aldar offer despite falling short of fair value report benchmark\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=SODIC+approves+Aldar+offer+despite+falling+short+of+fair+value+report+benchmark+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Fsodic-approves-aldar-offer-despite-falling-short-of-fair-value-report-benchmark%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/sodic-approves-aldar-offer-despite-falling-short-of-fair-value-report-benchmark\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/649.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555865\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/sodic-approves-aldar-offer-despite-falling-short-of-fair-value-report-benchmark\/649-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/649.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"649.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/649.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/649.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555864\" class=\"content-area-description single-story post-555864 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-adq tag-aldar-properties tag-bdo tag-enterpriseam tag-ma-watch tag-sodic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a><strong> SODIC\u2019s board of directors has approved a bid from Aldar Properties and <\/strong><strong>ADQ despite the offer price falling short of the benchmark set in a fair value report<\/strong>, according to an <a href=\"https:\/\/ent.news\/2021\/11\/SODIC-Board-of-directors-filing-29.11.2021.pdf\">EGX filing (pdf<\/a><a href=\"https:\/\/ent.news\/2021\/11\/SODIC-Board-of-directors-filing-29.11.2021.pdf\">)<\/a>. The Emirati consortium has offered to purchase 90% of the company at EGP 20.00 per share, valuing the company at EGP 7.1 bn. That\u2019s almost 20% below the EGP 23.42 share price the upmarket developer\u2019s financial advisor BDO had set in its fair value study. SODIC declined to comment further on the statement when we asked yesterday.<\/p>\n<p><strong>The rationale:<\/strong> The developer cited the \u201ccurrent global economic conditions and the effect of the covid-19 pandemic\u201d as well as the consortium\u2019s \u201ceconomically strong\u201d positions as reasons for backing the transaction at the current price. The consortium is also reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8af3702-0c4c-4854-a9b4-df0b7f8b4854\">not planning<\/a> to up its bid if shareholders reject the price, after having raised its bid once before from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65445c53-bf8c-4144-8e37-6daa4e7031c0\">EGP 18-19<\/a>.<\/p>\n<p><strong>There\u2019s also the fact that Aldar would be a heck of boost for the domestic real estate industry<\/strong>, bringing know-how and a competitive metabolism honed in the ultra-competitive Emirati market. (The transaction going through would also be also a great sign for other foreign investors watching the transaction, but that\u2019s another issue.)<\/p>\n<p><strong>Where does that leave the <\/strong><strong>shareholders<\/strong><strong>?<\/strong> It appears that SODIC\u2019s single largest shareholder \u2014 a consortium made up of Act Financial, Hassan Allam Properties and Concrete Plus Engineering and Construction, who together own a 15% stake \u2014 has yet to make a decision. Act had been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0a12ab5-51fd-4f47-a266-6e199dafba68\">waiting<\/a> on SODIC to make public the results of the fair value assessment to help \u201cguide minority shareholders on the real value of the company,\u201d CEO Bassem Azab previously told Enterprise. The shareholders now have until 7 December to make a decision. Shareholders need to agree to sell at least 51% of SODIC\u2019s shares for the MTO to be successful. Act Financial did not return a call yesterday requesting comment.<\/p>\n<p><strong>SODIC\u2019s shares closed yesterday at EGP 19.60 each<\/strong>, surpassing the upper end of the EGP 13.95-19.50 band in which they\u2019ve been trading for the past 52 weeks, according to market data from the EGX.<\/p>\n<p><strong>FOLLOW UP-<\/strong> A story we picked up from Al Shorouk earlier this week incorrectly reported that EFG Hermes had decided to respond to the MTO by selling its 2.4% stake in SODIC. A source with direct knowledge of the matter has informed us that EFG offloaded its stake long before the Aldar-ADQ bid.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aldar-properties\/\">Aldar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bdo\/\">BDO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555866\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555866\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/president-ratifies-law-handing-prime-ministers-expanded-powers-during-pandemics\/\">\r\n                            President ratifies law handing prime ministers expanded powers during pandemics                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/president-ratifies-law-handing-prime-ministers-expanded-powers-during-pandemics\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/president-ratifies-law-handing-prime-ministers-expanded-powers-during-pandemics\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/president-ratifies-law-handing-prime-ministers-expanded-powers-during-pandemics\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=President ratifies law handing prime ministers expanded powers during pandemics&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/president-ratifies-law-handing-prime-ministers-expanded-powers-during-pandemics\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/president-ratifies-law-handing-prime-ministers-expanded-powers-during-pandemics\/&title=President ratifies law handing prime ministers expanded powers during pandemics\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=President+ratifies+law+handing+prime+ministers+expanded+powers+during+pandemics+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Fpresident-ratifies-law-handing-prime-ministers-expanded-powers-during-pandemics%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/president-ratifies-law-handing-prime-ministers-expanded-powers-during-pandemics\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/650.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555867\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/president-ratifies-law-handing-prime-ministers-expanded-powers-during-pandemics\/650-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/650.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"650.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/650.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/650.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555866\" class=\"content-area-description single-story post-555866 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-covid-19 tag-enterpriseam tag-legislation tag-legislation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The PM now has emergency pandemic powers:<\/strong> A law handing the prime minister extraordinary powers to respond to pandemics and public health crises was ratified by President Abdel Fattah El Sisi yesterday, according to the Official Gazette. The PM will now have authority to impose a wide range of restrictions on movement to contain virual outbreaks and use a raft of emergency powers to stabilize the economy. Fines and jail sentences will be handed out to people guilty of spreading disinformation and those who violate pandemic measures. You can find the full text of the law <a href=\"https:\/\/www.scribd.com\/document\/543308558\/%D8%A7%D9%84%D8%AC%D8%B1%D9%8A%D8%AF%D8%A9-%D8%A7%D9%84%D8%B1%D8%B3%D9%85%D9%8A%D8%A9#download&from_embed\">here<\/a>.<\/p>\n<p><strong>Restrictions on movement:<\/strong> Madbouly and future PMs will now have the power to lock down areas of the country or impose a nationwide curfew in response to public health crises. The PM now has the power to close and change the opening hours of stores, and shutter schools and universities, public and private organizations, places of worship, and sports clubs. Both public and private meetings can now be banned, and public transport, as well as private mass transportation, may be suspended. <strong>Sound familiar? <\/strong>These are all measures the government has imposed at various times since the pandemic began.<\/p>\n<p><strong>Emergency economic powers:<\/strong> The PM\u2019s office can introduce export and import controls on certain goods and commodities and can weigh in on market prices, setting prices for goods, services and commodities. This extends to prices charged by private health providers, a measure <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/734f1ee9-fded-4641-88ef-6fec7a4ca806\">imposed by the Health Ministry<\/a> during the initial covid outbreak in 2020. Deadlines for filing and paying taxes can be extended for up to three months while electricity, gas and water bills may be postponed \u2014 again, all measures to which the state has resorted a various times during the pandemic.<\/p>\n<p><strong>Caught breaking the rules? <\/strong>You could face a fine of up to EGP 20k as well as prison time. The bill does not specify a maximum or minimum prison sentence. Authorities will also be able to close down for six months any establishment found in violation of the rules. There does seem to be a get-out clause though: Pay a third of the maximum fine immediately and the case will be dropped.<\/p>\n<p><strong>Controlling information:<\/strong> Anyone who publishes information about the epidemic that is deemed false and \u201charms the public interest\u201d can be handed a fine of up to EGP 10k and a spell in prison of up to one year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555868\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555868\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/\">\r\n                            Gov\u2019t wants to raise Africa exports to USD 7 bn in 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gov\u2019t wants to raise Africa exports to USD 7 bn in 2022&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/&title=Gov\u2019t wants to raise Africa exports to USD 7 bn in 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Gov%E2%80%99t+wants+to+raise+Africa+exports+to+USD+7+bn+in+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Fgovt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/651.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555869\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/651-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/651.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"651.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/651.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/651.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555868\" class=\"content-area-description single-story post-555868 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-africa tag-economy tag-enterpriseam tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>More African exports ahead: <\/strong>The government wants to increase the value of exports to Africa to USD 7 bn in 2022 as part of a broader plan to boost trade with the continent, cabinet said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/283603147143446?__cft__[0]=AZV7hdiiY2VkuuyFxbV6trAzOEyWOTCdOqAUa_-ThLtdHUto_s1kyrFwtnrZl67xxVN1wb6jqq_XukrtG2ZrpGDqmrXSbLV5z_djWZoU2_Mgl4xQH-zDNBLajFVqoVquvfdnY0VaAkI_UxEzOiaN8VMZzBC0dMRKHBvufU738ZfNaw&__tn__=%2CO%2CP-R\">a statement<\/a> yesterday.<\/p>\n<p><strong>The master plan:<\/strong> The three-phase strategy aims to boost our exports to Africa to USD 10 bn by the middle of the decade. The government is trying to hit USD 7 bn within the first phase, which will start in January 2022 and target 10 countries.<\/p>\n<p><strong>They\u2019re going to have their work cut out, as exports to sub-Saharan Africa are seriously lagging: <\/strong>During the last fiscal year, Egypt exported only USD 606.6 mn of goods to Africa (excluding Arab countries), totalling just USD 607 mn and accounting for only 2.1% of our total exports<sup><\/sup>, according to Central Bank of Egypt data. Arab countries bought c. USD 6.7 bn worth of goods and services, or about a quarter of our total exports.<\/p>\n<p><strong>That\u2019s not to take away from the impressive export growth seen during the cov<\/strong><sup><\/sup><strong>id recovery:<\/strong> Exports hit a near-13-year high<sup><\/sup> in the final quarter of the state\u2019s 2020-2021 fiscal year, reaching more than USD 8.1 bn during the three-month period ending June 2021, central bank data shows. After falling by almost a quarter<sup><\/sup> in 2H2019-2020 due mainly to the covid-induced turmoil in the energy markets<sup><\/sup>, exports expanded by almost 50% <sup><\/sup>by the end of 2020-2021.<\/p>\n<p><strong>The breakdown: <\/strong>Finished goods made up the biggest percentage of global exports last year, valued at USD 11.3 bn, with fertilizers, clothing and household electrical appliances accounting for a quarter of this. Petroleum exports came in second at USD 8.8 bn.<\/p>\n<p><strong>Increasing exports is one of the key targets of the government\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/880fe75b-3a07-477a-93c3-c87eaad7936f\">new structural reform program<\/a><\/strong><strong>.<\/strong> The government hopes that the new round of reforms designed to ramp up in manufacturing, telecoms and IT, and agricultural exports, as well as a new export subsidy program, will eventually raise exports to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44bd7ad8-854f-40d9-9b58-108f3b56089a\">USD 100 bn a year<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555870\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555870\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Green economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/lekelas-west-bakr-wind-farm-is-live\/\">\r\n                            Lekela\u2019s West Bakr wind farm is live                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/lekelas-west-bakr-wind-farm-is-live\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/lekelas-west-bakr-wind-farm-is-live\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/lekelas-west-bakr-wind-farm-is-live\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Lekela\u2019s West Bakr wind farm is live&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/lekelas-west-bakr-wind-farm-is-live\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/lekelas-west-bakr-wind-farm-is-live\/&title=Lekela\u2019s West Bakr wind farm is live\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Lekela%E2%80%99s+West+Bakr+wind+farm+is+live+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Flekelas-west-bakr-wind-farm-is-live%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/lekelas-west-bakr-wind-farm-is-live\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/653.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555871\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/lekelas-west-bakr-wind-farm-is-live\/653-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/653.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"653.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/653.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/653.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555870\" class=\"content-area-description single-story post-555870 post type-post status-publish format-standard has-post-thumbnail hentry category-green-economy tag-africa tag-ebrd tag-enterpriseam tag-green-economy tag-international-finance-corporation tag-lekela-power tag-renewable-energy tag-renewables tag-siemens-gamesa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>Actis-backed Lekela\u2019s West Bakr wind farm became fully operational yesterday: <\/strong>Renewable power generation company Lekela Power <a href=\"https:\/\/ent.news\/2021\/11\/Lekela-West-Bakr-Wind-Farm-EN-.pdf\">announced yesterday (pdf)<\/a> that its 250 MW wind farm in West Bakr is live after less than two years of construction. Built under a build-own-operate (BOO) framework, the USD 350 mn project will increase Egypt\u2019s wind energy capacity by 18% and prevent more than 550k tonnes of CO2 emissions each year.<\/p>\n<p><strong>West Bakr is targeting energy production of over 1k GWh every year for 20 years.<\/strong> Siemens Gamesa installed and connected 96 turbines for the project, after completing the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26356c93-6525-469a-bf66-e647ebe9ef5e\">installation<\/a> of the first 20 turbines over the summer. The Actis-backed power company had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/323f6825-1739-4d2e-b6f6-edea60694a8a\">previously said<\/a> it plans to direct most of its investments towards Egypt in the coming years, and to implement projects with a combined capacity of 500 MW in the country.<\/p>\n<p><strong>Footing the bill: <\/strong>The wind farm was financed by the European Bank for Reconstruction and Development, the International Finance Corporation, and the US International Development Finance Corporation.<\/p>\n<p><strong>Lekela is also launching two sustainable development programs in West Bakr<\/strong> that will see the company provide women in the area with vocational training as well as help protect local biodiversity such as migratory birds.<\/p>\n<p><strong>An ambitious national target:<\/strong> Egypt is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\">aiming to produce 42% of its energy from renewable sources<\/a> by the end of the decade, a target announced during the COP26 climate summit earlier this month. This is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d15db21-9a1a-497f-afb7-27ea3b135c76\">five years quicker<\/a> than its previous target.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lekela-power\/\">Lekela Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens-gamesa\/\">Siemens Gamesa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555872\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555872\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/fintech-regs-get-preliminary-house-approval\/\">\r\n                            Fintech regs get preliminary House approval                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/fintech-regs-get-preliminary-house-approval\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/fintech-regs-get-preliminary-house-approval\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/fintech-regs-get-preliminary-house-approval\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Fintech regs get preliminary House approval&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/fintech-regs-get-preliminary-house-approval\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/fintech-regs-get-preliminary-house-approval\/&title=Fintech regs get preliminary House approval\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Fintech+regs+get+preliminary+House+approval+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Ffintech-regs-get-preliminary-house-approval%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/fintech-regs-get-preliminary-house-approval\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/654.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555873\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/fintech-regs-get-preliminary-house-approval\/654-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/654.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"654.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/654.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/654.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555872\" class=\"content-area-description single-story post-555872 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-finance tag-financial-inclusion tag-financial-regulatory-authority tag-fintech tag-house-of-representatives tag-legislation tag-legislation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>A draft law that would regulate the fintech space received a preliminary nod from the <\/strong><strong>House of Representatives<\/strong> during its plenary session yesterday, according to <a href=\"https:\/\/alborsaanews.com\/2021\/11\/29\/1485826\">Al Borsa<\/a>. The new law would, if passed, regulate the use of fintech to deliver non-banking financial services (NBFS) in a bid to promote financial inclusion and expand the number of beneficiaries.<\/p>\n<p><strong>FRA to take the lead on regulating the fintech space:<\/strong> Under the bill, the Financial Regulatory Authority (FRA) would be the only entity in charge of licensing and regulating fintech companies<sup><\/sup>. It would also set transparency and governance standards and be charged with protecting consumer rights.<\/p>\n<p><strong>Background:<\/strong> The FRA completed the first draft of the bill in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/480025ed-2bc3-40c7-b508-8103c35d43f5\">July<\/a> before approving and shipping it off to the House in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d59b8d8-cfa8-4d41-8c9e-af80e1620e1e\">September<\/a>. The new regulation covers crowdfunding, robo-advisory, nano-finance and insurtech, and introduces penalties for regulatory breaches including imprisonment or fines of EGP 200k-1 mn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555874\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555874\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/egypt-is-still-in-the-clear-with-no-patient-zero-just-yet\/\">\r\n                            Egypt is still in the clear with no patient zero just yet                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/egypt-is-still-in-the-clear-with-no-patient-zero-just-yet\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/egypt-is-still-in-the-clear-with-no-patient-zero-just-yet\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/egypt-is-still-in-the-clear-with-no-patient-zero-just-yet\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt is still in the clear with no patient zero just yet&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/egypt-is-still-in-the-clear-with-no-patient-zero-just-yet\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/egypt-is-still-in-the-clear-with-no-patient-zero-just-yet\/&title=Egypt is still in the clear with no patient zero just yet\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+is+still+in+the+clear+with+no+patient+zero+just+yet+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Fegypt-is-still-in-the-clear-with-no-patient-zero-just-yet%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/egypt-is-still-in-the-clear-with-no-patient-zero-just-yet\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555874\" class=\"content-area-description single-story post-555874 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry is denying claims that the newly-discovered Omicron covid variant <\/strong><strong>has entered Egypt.<\/strong> Claims that the variant entered the country via an Ethiopian flight are untrue, Health Ministry spokesperson Hossam Abdel Ghaffar told Kelma Akhira last night (<a href=\"https:\/\/www.youtube.com\/watch?v=v3KewXxCp0Y\">watch, runtime: 3:05<\/a>).<\/p>\n<p><strong>Still, it\u2019s only a matter of time before it gets here<\/strong>, he said, adding that precautions being taken are to limit its spread and delay its entrance into the country.<\/p>\n<p><strong>Omicron isn\u2019t a reason not to take the vaccine:<\/strong> The ministry is downplaying fears that Omicron could sidestep today\u2019s covid-19 vaccines. Abdel Ghaffar said in a separate interview on Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=RP2mGV6uj64\">watch, runtime: 9:41<\/a>) that while the mutations could reduce the effectiveness of vaccines against Omicron, it won\u2019t render them useless against the virus. He repeated the state\u2019s call for folks to continue to signing up for the jabs.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/216288964015659\">reported<\/a><\/strong><strong> 911 new covid-19 infections yesterday<\/strong>, down from 951 the day before. Egypt has now disclosed a total of 357,629 confirmed cases of covid-19. The ministry also reported 65 new deaths, bringing the country\u2019s total death toll to 20,142.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555875\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555875\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/orascom-financial-reports-egp-17-9-mn-net-income-in-3q\/\">\r\n                            Orascom Financial reports EGP 17.9 mn net income in 3Q                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/orascom-financial-reports-egp-17-9-mn-net-income-in-3q\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/orascom-financial-reports-egp-17-9-mn-net-income-in-3q\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/orascom-financial-reports-egp-17-9-mn-net-income-in-3q\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Orascom Financial reports EGP 17.9 mn net income in 3Q&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/orascom-financial-reports-egp-17-9-mn-net-income-in-3q\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/orascom-financial-reports-egp-17-9-mn-net-income-in-3q\/&title=Orascom Financial reports EGP 17.9 mn net income in 3Q\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Orascom+Financial+reports+EGP+17.9+mn+net+income+in+3Q+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Forascom-financial-reports-egp-17-9-mn-net-income-in-3q%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/orascom-financial-reports-egp-17-9-mn-net-income-in-3q\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555875\" class=\"content-area-description single-story post-555875 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam tag-orascom-financial-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Orascom Financial Holding reported EGP 17.9 mn in net income in 3Q2021<\/strong>, raising total income since its inception in December last year to EGP 54.6 mn, according to the company\u2019s<a href=\"https:\/\/ent.news\/2021\/11\/OFH-3Q2021-FINANCIALS.pdf\"><\/a><a href=\"https:\/\/ent.news\/2021\/11\/OFH-3Q2021-FINANCIALS.pdf\">financials (pdf)<\/a>. The company, which was formed last year after Orascom Investment Holding spun off its financial services business, reported EGP 107.6 mn in operating revenues for the quarter. Revenues since the demerger are now at EGP 268.9 mn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-financial-holding\/\">Orascom Financial Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555876\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"555876\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/555876\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555876\" class=\"content-area-description single-story post-555876 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/Tactical-Male-1600WX800H-for-web.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555877\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555877\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/last-nights-talk-shows-on-surprise-surprise-covid\/\">\r\n                            Last Night\u2019s Talk Shows on surprise, surprise, covid                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/last-nights-talk-shows-on-surprise-surprise-covid\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/last-nights-talk-shows-on-surprise-surprise-covid\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/last-nights-talk-shows-on-surprise-surprise-covid\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows on surprise, surprise, covid&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/last-nights-talk-shows-on-surprise-surprise-covid\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/last-nights-talk-shows-on-surprise-surprise-covid\/&title=Last Night\u2019s Talk Shows on surprise, surprise, covid\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows+on+surprise%2C+surprise%2C+covid+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Flast-nights-talk-shows-on-surprise-surprise-covid%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/last-nights-talk-shows-on-surprise-surprise-covid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555877\" class=\"content-area-description single-story post-555877 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-ali-el-moselhy tag-covid-19 tag-defense tag-enterpriseam tag-last-nights-talk-shows tag-world-health-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Covid continued to dominate the airwaves for the third night this week: <\/strong>The Health Ministry spokesperson was on the talk shows to talk Omicron and respond to claims that it has already made its way to Egypt, while the World Health Organization\u2019s Egypt representative joined Kelma Akhira\u2019s Lamees El Hadidi to discuss the latest developments (<a href=\"https:\/\/www.youtube.com\/watch?v=xO3r8o9c-PQ\">watch, runtime: 21:14<\/a>). For more on what the talk shows had to say about Omicron, head to this morning\u2019s Covid Watch, above.<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>The state has upped its basic commodities reserves: <\/strong>The state has five months of wheat, 3.5 months of sugar and has achieved self-sufficiency in rice, Supply Minister Ali El Moselhy told El Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=w7Hqdqb9ffI\">watch, runtime: 5:21<\/a>).<\/li>\n<li><strong>EDEX kicked off yesterday<\/strong> and President Abdel Fattah El Sisi\u2019s speech at the opening of <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo<\/a> also made it to last night\u2019s talk shows. (Al Hayah Al Youm | <a href=\"https:\/\/www.youtube.com\/watch?v=XpULqldrM2A\">watch, runtime: 1:08<\/a>).<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ali-el-moselhy\/\">Ali El Moselhy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/defense\/\">Defense<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555878\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-d3gxc1i\" data-v=\"4\" data-block-id=\"d3gxc1i\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-d3gxc1i-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-d3gxc1i-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ir0kq46\" data-v=\"4\" data-block-id=\"ir0kq46\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ir0kq46-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ir0kq46-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-m97jykb\" data-v=\"4\" data-block-id=\"m97jykb\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-m97jykb-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-m97jykb-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-x9feiqy\" data-v=\"4\" data-block-id=\"x9feiqy\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-x9feiqy-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-x9feiqy-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555879\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555879\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/conviction-of-hossam-bahgat-top-story-in-the-foreign-press\/\">\r\n                            Conviction of Hossam Bahgat top story in the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/conviction-of-hossam-bahgat-top-story-in-the-foreign-press\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/conviction-of-hossam-bahgat-top-story-in-the-foreign-press\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/conviction-of-hossam-bahgat-top-story-in-the-foreign-press\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Conviction of Hossam Bahgat top story in the foreign press&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/conviction-of-hossam-bahgat-top-story-in-the-foreign-press\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/conviction-of-hossam-bahgat-top-story-in-the-foreign-press\/&title=Conviction of Hossam Bahgat top story in the foreign press\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Conviction+of+Hossam+Bahgat+top+story+in+the+foreign+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Fconviction-of-hossam-bahgat-top-story-in-the-foreign-press%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/conviction-of-hossam-bahgat-top-story-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555879\" class=\"content-area-description single-story post-555879 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egyptian-initiative-for-personal-rights tag-enterpriseam tag-hossam-bahgat tag-human-rights wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Hossam Bahgat\u2019s conviction yesterday is the top story in the foreign press this<\/strong> <strong>morning: <\/strong><a href=\"https:\/\/apnews.com\/article\/middle-east-africa-religion-elections-media-e72786765bdfe2d2f91c1ff56aebf95c\">The Associated Press<\/a> and <a href=\"https:\/\/www.france24.com\/en\/live-news\/20211129-egyptian-rights-activist-fined-over-insulting-online-posts\">AFP<\/a> both have coverage of Egyptian Initiative for Personal Rights (EIPR) founder Hossam Bahgat being fined EGP 10k after a court found him guilty of spreading false news and insulting the National Election Authority. The charges were based on a 2020 tweet in which he accused the authority of fraud during that year\u2019s parliamentary election. The AP notes that the case \u201chas drawn international condemnation, including by the US State Department.\u201d<\/p>\n<p><strong>Also making headlines: Mohamed Ali Palace soon to open its doors: <\/strong>Egyptian authorities are preparing to reopen Shubra\u2019s Mohamed Ali Palace, which had been under restoration since 2017. (<a href=\"https:\/\/www.al-monitor.com\/originals\/2021\/11\/life-returns-1800s-palace-egypt\">Al Monitor<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-initiative-for-personal-rights\/\">Egyptian Initiative for Personal Rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hossam-bahgat\/\">Hossam Bahgat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555880\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555881\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555881\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/omicron-fed-taper-hits-emerging-market-bond-etfs\/\">\r\n                            Omicron + Fed taper hits emerging-market bond ETFs                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/omicron-fed-taper-hits-emerging-market-bond-etfs\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/omicron-fed-taper-hits-emerging-market-bond-etfs\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/omicron-fed-taper-hits-emerging-market-bond-etfs\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Omicron + Fed taper hits emerging-market bond ETFs&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/omicron-fed-taper-hits-emerging-market-bond-etfs\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/omicron-fed-taper-hits-emerging-market-bond-etfs\/&title=Omicron + Fed taper hits emerging-market bond ETFs\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Omicron+%2B+Fed+taper+hits+emerging-market+bond+ETFs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Fomicron-fed-taper-hits-emerging-market-bond-etfs%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/omicron-fed-taper-hits-emerging-market-bond-etfs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555881\" class=\"content-area-description single-story post-555881 post type-post status-publish format-standard hentry category-planet-finance tag-bonds tag-covid-19 tag-emerging-markets tag-enterpriseam tag-equities tag-etfs tag-financial-markets tag-planet-finance tag-us-federal-reserve wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Omicron + Fed taper hits emerging-market bond ETFs: <\/strong>Investors pulled more than USD 850 mn from emerging-market debt ETFs last week as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f338ed7d-a157-47ba-9dbe-ee6fd9a80c63\">the discovery of the Omicron covid variant<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/483ec8ab-3bae-4fc7-bc1c-87f58b8bb64a\">the decision to keep Jay Powell<\/a> as Federal Reserve head for another term fuelled risk-off sentiment, data from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-29\/traders-flee-largest-emerging-debt-etf-on-omicron-fed-hike-bets?sref=mmeFTDW1\">Bloomberg<\/a> shows. Bond funds saw the biggest outflows, losing USD 640.2 mn during the week, but equities weren\u2019t spared either, seeing USD 213.9 mn of outflows. The US\u2019 biggest EM debt ETF \u2014 the iShare JPMorgan fund \u2014 had its worst week since the pandemic first hit in March 2020, falling 2.6% at the same time as investors pulled USD 709.5 mn.<\/p><p><strong>Egypt wasn\u2019t spared:<\/strong> The sell-off in bond ETFs meant that Egyptian assets saw net outflows of USD 19.3 mn last week. This represents a drop of around 12%, with foreign ETF holdings falling from USD 997.1 mn to USD 977.8 mn. Egyptian equities saw small inflows of USD 200k but this didn\u2019t do anything to offset the USD 19.4 mn pulled from bonds.<\/p><p><strong>Putting this into perspective:<\/strong> Egyptian assets held in ETFs are peanuts compared to the bns of USD invested directly in local-currency bonds. According to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77f1fef1-7022-4da7-a44e-d3ae01256eac\">the most recent figures<\/a> provided by the Finance Ministry, foreign holdings of Egyptian debt in August amounted to around USD 33 bn.<\/p><p><strong>\u201cWe can\u2019t see a positive environment for EM<\/strong>, as many EM countries will be last in line for vaccine that might be produced to counteract\u201d the variant, Citigroup strategists Jamie Fahy, Adam Pickett and Yasmin Younes wrote in a note to clients Friday.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,212<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +3.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,811<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +24.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,479<\/p>\n<\/td>\n<td>\n<p>+2.2% (YTD: +68.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,060<\/p>\n<\/td>\n<td>\n<p>+1.8% (YTD: +22.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,655<\/p>\n<\/td>\n<td>\n<p>+1.3% (YTD: +23.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,110<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 73.45<\/p>\n<\/td>\n<td>\n<p>+1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.85<\/p>\n<\/td>\n<td>\n<p>-11.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,785<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 58,345<\/p>\n<\/td>\n<td>\n<p>+3.2% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.6% at yesterday\u2019s close<\/strong> on turnover of EGP 955 mn (33.7% below the 90-day average). Local investors were net buyers. The index is up 3.4% YTD.<\/p><p><strong>In the green: <\/strong>Aspire Capital (+5.5%), Pioneers Properties (+4.3%) and Orascom Development Egypt (+3.5%).<\/p><p><strong>In the red: <\/strong>Eastern Company (-10.1%), Speed Medical (-3.0%) and AMOC (-2.6%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/etfs\/\">ETFs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555882\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"555882\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/turns-out-defense-expos-are-good-places-to-talk-arms-sales\/\">\r\n                            Turns out defense expos are good places to talk arms sales                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/turns-out-defense-expos-are-good-places-to-talk-arms-sales\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/turns-out-defense-expos-are-good-places-to-talk-arms-sales\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/turns-out-defense-expos-are-good-places-to-talk-arms-sales\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Turns out defense expos are good places to talk arms sales&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/turns-out-defense-expos-are-good-places-to-talk-arms-sales\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/turns-out-defense-expos-are-good-places-to-talk-arms-sales\/&title=Turns out defense expos are good places to talk arms sales\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Turns+out+defense+expos+are+good+places+to+talk+arms+sales+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F30%2Fturns-out-defense-expos-are-good-places-to-talk-arms-sales%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/turns-out-defense-expos-are-good-places-to-talk-arms-sales\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555882\" class=\"content-area-description single-story post-555882 post type-post status-publish format-standard hentry category-diplomacy tag-abdel-fattah-el-sisi tag-china tag-cit-ministry tag-dassault-aviation tag-defense tag-diplomacy tag-enterpriseam tag-foreign-ministry tag-france tag-politics tag-sameh-shoukry tag-south-korea wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Arms talks at the EDEX: <\/strong>The heads of French defense firm <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/454642359357831?__cft__[0]=AZUO8g3d9c2s6PJCvgTTKOqNZQ1XJtzdn1a6TFGr4USPxDWYHyb510ewHHVXCKgw1tVHGeTFLHE3_SDbGGMXn_7Hm2NS0sAJIBwsAvcefdo6nN0wwTQ-qfHZ0NVFhPOOq8V4eaMgsiXYN_3Uun_pm0v4gQUb6eYUNKz0ENR9vbOtzQ&__tn__=%2CO%2CP-R\">Dassault Aviation<\/a> and South Korea\u2019s <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/454642359357831\">Hanwha<\/a> \u2014 two companies that are negotiating arms sales with the Egyptian government \u2014 held talks with President Abdel Fattah El Sisi at the <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo (EDEX)<\/a> yesterday, Ittihadiya said.<\/p>\n<p><strong>Egypt has ongoing relationships with both these companies:<\/strong> The government earlier this year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/849526ab-920b-43f2-ae71-959b9cc408d8\">finalized a USD 4.8 bn contract<\/a> with Dassault to purchase 30 Rafale fighter jets, the deliveries of which should start in 2024. Meanwhile, the military is currently in talks with Hanwha to purchase a number of K9 Thunder howitzers for USD 2 bn, <a href=\"https:\/\/koreajoongangdaily.joins.com\/2021\/10\/11\/national\/diplomacy\/Egypt-diplomacy-nuclear\/20211011193427577.html\">South Korean media<\/a> reported last month.<\/p>\n<p><strong>Also taking place yesterday:<\/strong><\/p>\n<ul>\n<li><strong>President Abdel Fattah El Sisi virtually attended the Forum on China\u2013Africa <\/strong><strong>Cooperation <\/strong>yesterday, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/454553309366736\">Ittihadiya statement<\/a>. The forum was attended by Chinese President Xi Jinping and a number of African leaders and witnessed discussions on ways to consolidate the constructive partnership between the African continent and China.<\/li>\n<li><strong>Foreign Minister Sameh Shoukry attended the <\/strong><strong>forum for the <\/strong><strong><a href=\"https:\/\/ufmsecretariat.org\/\">Union for the<\/a><\/strong><strong><a href=\"https:\/\/ufmsecretariat.org\/\">Mediterranean<\/a><\/strong><strong> (UfM) in Barcelona<\/strong> yesterday, during which he held talks with a number of European foreign ministers \u2014 including <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/208667411443113\">Spain<\/a>, <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/208690878107433\">Luxembourg<\/a> and <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/208713024771885\">Hungary<\/a> \u2014 Jordanian foreign minister <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/208900171419837\">Ayman Safadi<\/a>, and EU foreign policy chief <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/208928814750306\">Josep Borrell<\/a>.<\/li>\n<li><strong>More Egypt-Jordan-Iraq cooperation: <\/strong>Egypt\u2019s Communication Ministry, its Iraqi counterpart and the Jordanian Digital Economy And Entrepreneurship Ministry signed a letter of intent to cooperate on AI and capacity building, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/283513120485782\">cabinet statement<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit-ministry\/\">CIT ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dassault-aviation\/\">Dassault Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/defense\/\">Defense<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-korea\/\">South Korea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"555883\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/to-lower-emissions-we-need-better-science-not-pledges\/\">\r\n                            To lower emissions we need better science, not pledges<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/to-lower-emissions-we-need-better-science-not-pledges\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/goinggreens\/to-lower-emissions-we-need-better-science-not-pledges\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/goinggreens\/to-lower-emissions-we-need-better-science-not-pledges\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=To lower emissions we need better science, not pledges&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/to-lower-emissions-we-need-better-science-not-pledges\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/to-lower-emissions-we-need-better-science-not-pledges\/&title=To lower emissions we need better science, not pledges\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=To+lower+emissions+we+need+better+science%2C+not+pledges+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fto-lower-emissions-we-need-better-science-not-pledges%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/to-lower-emissions-we-need-better-science-not-pledges\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/655.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"555884\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/to-lower-emissions-we-need-better-science-not-pledges\/655-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/655.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"655.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/655.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/655.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-555883\" class=\"content-area-description post-555883 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-carbon-credits tag-climate-change tag-co2-emissions tag-cop26 tag-enterprise-going-green tag-enterpriseam tag-methane-emissions wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a><strong> Countries are underreporting their annual CO2 emissions, even as they pledge to <\/strong><strong>reduce them<\/strong>, an <a href=\"https:\/\/www.washingtonpost.com\/climate-environment\/interactive\/2021\/greenhouse-gas-emissions-pledges-data\/?itid=hp-top-table-main\">independent investigation by the Washington Post<\/a> has found. The Post\u2019s analysis, which compared countries\u2019 reported and predicted numbers to independent global emission measurements, found that 8.5 bn-13.3 bn tonnes of greenhouse gas emissions went unaccounted for. The Post based its analysis on scientific and atmospheric data from the <a href=\"https:\/\/www.globalcarbonproject.org\/\">Global Carbon Project<\/a>, the <a href=\"https:\/\/public.wmo.int\/en\">World Meteorological Organization<\/a>, and the UN <a href=\"https:\/\/www.fao.org\/home\/en\">Food and Agriculture Organization<\/a> (FAO).<\/p>\n<p><strong>Why is this a problem? <\/strong><a href=\"https:\/\/www.unep.org\/resources\/emissions-gap-report-2021\">UNEP\u2019s Emissions Gap Report<\/a>, released last month ahead of COP26, found that new and updated <a href=\"https:\/\/unfccc.int\/process-and-meetings\/the-paris-agreement\/nationally-determined-contributions-ndcs\/nationally-determined-contributions-ndcs\">Nationally Determined Contributions<\/a> offered for 2030 would lead to a 2.7\u00b0C temperature rise in this century \u2014 1.2\u00b0C higher than the 1.5\u00b0C set out in the Paris Agreement. So even if emissions reporting were 100% accurate, the planet would continue to warm at a faster rate than we want it to.<\/p>\n<p><strong>There\u2019s a huge emissions data gap: <\/strong>Of 196 countries, only 45 (mostly developed) countries reported their emissions to COP in 2019, which is <a href=\"https:\/\/unfccc.int\/es\/topics\/mitigation\/workstreams\/nationally-appropriate-mitigation-actions\/national-reports\">required<\/a> of parties to the convention. The UNFCCC\u2019s reporting system allows developed countries and developing countries to use different standards, creating an unbalanced reporting system. Developed countries, particularly the G20, are the world\u2019s largest emitters, and have more tools and technical knowledge to measure and report emissions. But that doesn\u2019t mean they necessarily report more accurate numbers, just that they report them at all.<\/p>\n<p><strong>And developing countries \u2014 including Egypt \u2014 are way behind: <\/strong>Many large emitters, including large oil and gas producers like Iran, Qatar and Algeria, haven\u2019t filed reports for over a decade and war-torn gas producers like Libya have never reported emissions. Around 45 countries have not reported any numbers since 2009. In a previous <a href=\"https:\/\/enterprise.press\/hardhats\/look-egypts-polluting-sectors\/\">edition of Hardhat<\/a>, we looked at Egypt\u2019s most-polluting sectors, but found that there was no consolidated data and the most recent figures available are several years old.<\/p>\n<p><strong>Egypt ranks third behind Saudi Arabia and Iran in MENA when it comes to emissions<\/strong>, according to the World Resources Institute <a href=\"https:\/\/ent.news\/2020\/10\/Climate-story-data-Sheet7.pdf\">CAIT database (pdf)<\/a>, producing 310 mn tonnes of carbon dioxide equivalent greenhouse gas emissions in 2016. Egypt\u2019s emissions grew by 140% between 1990 and 2016 \u2014 an average compound annual growth rate of 3.5%, which is three times faster than the global average.<\/p>\n<p><strong>Some 57-76 mn tonnes of human-caused methane emissions go unreported <\/strong>in UN country reports, according to The Post. Methane leaks through pipelines in the oil and gas industry, and is emitted through the burps and dung of cows, as well as from human waste in landfills. Cows are notorious emitters of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fdf5d1b-4b55-4193-9f17-f527fbbd1791\">greenhouse<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fdf5d1b-4b55-4193-9f17-f527fbbd1791\">gases<\/a>, contributing to 60% of total livestock emissions, with 40% of those being methane, while <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce3ea8fd-5dd1-4a96-b5b7-2417ce1b4437\">artificial fertilizers<\/a> release nitrogen into the soil, which is then turned into nitrous oxide. Fluorinated gases from air conditioners, refrigerators and electricity, are also underreported, or not reported at all.<\/p>\n<p><strong>Nobody wants to claim responsibility for international air travel and shipping, <\/strong>which together account for more than 1 bn tons of emissions. This amounts to <a href=\"https:\/\/unfccc.int\/files\/meetings\/paris_nov_2015\/application\/pdf\/paris_agreement_english_.pdf\">2%<\/a> of all human-induced carbon emissions. The <a href=\"https:\/\/www.edf.org\/climate\/aviation\">Environmental Defense Fund<\/a> is one organization working to reduce emissions from international air travel through its Carbon Offsetting and Reduction Scheme for International Aviation, or CORSIA, with 81 nations agreeing to participate in its first voluntary phase.<\/p>\n<p><strong>Fossil fuels are not the only sector under the microscope: <\/strong>Burning fossil fuels accounts for the greatest emissions of greenhouse gases \u2014 and the most measurable \u2014 but other sectors are also problematic, partly because of how difficult it is to measure their impact. Some of the fallacies of reporting include not accounting for <a href=\"https:\/\/www.washingtonpost.com\/weather\/2020\/01\/24\/australia-bush-fires-have-nearly-doubled-countrys-annual-greenhouse-gas-emissions\/\">encroaching megafires<\/a>, as is the case with Australia, or underplaying the impact of <a href=\"https:\/\/www.reuters.com\/article\/us-environment-malaysia-palmoil-idUSKCN0PG1UC20150706\">draining peatlands<\/a> to make way for palm oil plantations, as is the case with Malaysia. It is more difficult to calculate emissions from chopping down forests, wildfires, draining peatlands or use of nitrogen fertilizers than it is to calculate emissions from burning fossil fuels.<\/p>\n<p><strong>A combination of unclear metrics, partial reporting and \u201cwillful mistakes\u201d are creating gaps in our understanding of our carbon footprint. <\/strong>The United Nations Framework Convention on Climate Change\u2019s (UNFCCC) <a href=\"https:\/\/unfccc.int\/resource\/docs\/2013\/cop19\/eng\/10a03.pdf#page=2\">guidelines<\/a> rely on bookkeepers to tally different emissions-producing activities such as the number of cows in a given country or the amount of fertilizer used, and then multiply them by an emission factor \u2014 all of which are subject to human error. The absence of atmospheric or satellite measurements in country reports means that many countries are underestimating their emissions and overestimating the impact of the measures being taken to reverse climate change.<\/p>\n<p><strong>At least 59% of the discrepancy comes from how countries account for their emissions from land use. <\/strong>One of the most controversial reporting practices is how countries are using carbon offsets to get closer to net zero, claiming that their emissions are offset by carbon sinks \u2014 landmassess that absorb more carbon dioxide from the atmosphere than they produce. These can potentially offset the emissions produced by countries, but due to approximate reporting, countries often miscalculate and misreport the scale of the offset.<\/p>\n<p><strong>That said, carbon offsets provide one way for countries and companies to slash their emissions. <\/strong>Carbon offsetting through carbon markets, detailed in <a href=\"https:\/\/unfccc.int\/files\/meetings\/paris_nov_2015\/application\/pdf\/paris_agreement_english_.pdf\">Article 6<\/a> of the Paris Agreement, allows countries and companies to fund emissions cuts elsewhere, (preventing deforestation, for example) to contribute towards their emission reduction goals. The UNEP Emissions Gap Report highlights carbon markets as one mechanism that can help slash emissions, provided that \u201crules are clearly defined and target actual reductions in emissions, while being supported by arrangements to track progress and provide transparency.\u201d Although the EU established the world\u2019s first carbon market in 2005 \u2014 the <a href=\"https:\/\/ec.europa.eu\/clima\/eu-action\/eu-emissions-trading-system-eu-ets_en\">Emissions Trading System<\/a> (ETS) \u2014 COP26 marked the first time that some 200 countries reached an agreement that set out rules to regulate global <a href=\"https:\/\/www.reuters.com\/business\/cop\/outline-carbon-markets-deal-emerges-un-climate-summit-2021-11-13\/\">carbon markets<\/a>. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34bc33f3-1bfb-470b-8414-3e0b04a72498\">global carbon market<\/a>, which some experts estimate could be valued at USD 22 tn by 2050, allows countries to purchase emissions reductions, effectively accumulating carbon credits.<\/p>\n<p><strong>Experts have estimated that developing robust reporting systems and improving <\/strong><strong><a href=\"https:\/\/unfccc.int\/enhanced-transparency-framework\">transparency<\/a><\/strong><strong> in climate reporting might take until 2030 \u2014 the same time frame over which scientists say emissions must be halved. <\/strong>Unverified by independent scientific and atmospheric data, the science of reporting continues to be inexact. The Post\u2019s findings indicate that it is only by relying on hard data and sound data collection methodologies that countries can begin to make meaningful pledges and report their progress toward achieving them.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>A national hydrogen strategy in the works: <\/strong>The government is currently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13b2e953-6925-4086-9200-fd34156137c7\">contracting<\/a> with a global consulting office to develop a national hydrogen strategy, with a hydrogen project potentially coming online in October 2022.<\/li>\n<li><strong>Orascom Construction <\/strong><strong><a href=\"https:\/\/bit.ly\/3FRbu16\">will own up to 25%<\/a><\/strong><strong> of the green hydrogen plant in Ain <\/strong><strong>Sokhna.<\/strong> The 50-100 MW plant is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7f65631-b26f-45aa-a4de-a2daadb77981\">being built by<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7f65631-b26f-45aa-a4de-a2daadb77981\">Norway\u2019s Scatec<\/a> in partnership with Nassef Sawiris-backed ammonia producer Fertiglobe and the Sovereign Fund of Egypt (SFE).<\/li>\n<li><strong>Green finance from CIB:<\/strong> Our friends at CIB <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5e3510-53bf-4f7b-b5ed-f3ae5b19eb31\">approved<\/a> the allocation of USD 70 mn from its maiden green bond issuance to fund sustainable projects.<\/li>\n<li><strong>More green finance from EBRD: <\/strong>Intro Sustainable Resources is set to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1495c3e1-4b52-475b-8a15-698649d9562a\">receive<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1495c3e1-4b52-475b-8a15-698649d9562a\"><\/a>USD 5.3 mn in funding for its projects, which range from renewable energy generation and electricity distribution to waste management. <\/li>\n<li><strong>A big loan with a part-green tranche: <\/strong>First Abu Dhabi Bank and Emirates NBD are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb7fca24-682d-41f2-8790-4cb7c1e0eab8\">lending<\/a> Egypt USD 1 bn, part of which will be used to fund green ventures.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-credits\/\">carbon credits<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/co2-emissions\/\">CO2 emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop26\/\">COP26<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/methane-emissions\/\">methane emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"555885\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/555885\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555885\" class=\"content-area-description single-story post-555885 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>24 November-7 December (Wednesday-Tuesday): Designated period for SODIC shareholders to subscribe to Aldar Properties and ADQ\u2019s mandatory tender offer (<a href=\"http:\/\/enterprisemea.com\/wp-content\/uploads\/2021\/11\/EGX-announcement-%E2%80%94-Aldar-_-SODIC-MTO.pdf\">pdf<\/a>).<\/p>\n<p>26 November-5 December (Friday-Sunday): <a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">The 43rd Cairo International Film Festival<\/a>.<\/p>\n<p>28 November-1 December (Sunday-Wednesday): <a href=\"https:\/\/creativeindmena.com\/\">Creative Industry Summit<\/a>, Nile Ritz-Carlton.<\/p>\n<p>29 November-2 December (Monday-Thursday): <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo<\/a>, Egypt International Exhibition Centre.<\/p>\n<p>30 November (Tuesday): Launch of open call by KfW for green project proposals in Egypt as part of their <a href=\"http:\/\/enterprisemea.com\/wp-content\/uploads\/2021\/11\/2021-11-08_FINAL_EGY-ONLY-announcement-en-1.pdf\">Investing for Employment facility (pdf)<\/a>.<\/p>\n<p>End of November: El Nasr Automotive expects to have found a replacement for Dongfeng as its partner for its local EV assembly plans.<\/p>\n<p>1 December (Wednesday): Members of the public will need to show proof of vaccination \/ a negative PCR test to access banks, post offices and government facilities; unvaccinated students will be prevented from accessing university campuses.<\/p>\n<p>1 December (Wednesday): Government departments will begin moving to offices in the new capital.<\/p>\n<p>2 December (Thursday): The <a href=\"https:\/\/www.opec.org\/opec_web\/en\/press_room\/6690.htm\">23rd OPEC and non-OPEC ministerial meeting<\/a>.<\/p>\n<p>5 December (Sunday): Purchasing managers\u2019 index figures for November for Egypt, Saudi Arabia, and Qatar will be released.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<\/p>\n<p>8-10 December (Wednesday-Friday): <a href=\"https:\/\/www.gfhsegypt.com\/\">Global Forum for Higher Education and Scientific Research (GFHS)<\/a>, Cairo, Egypt.<\/p>\n<p>9-10 December (Thursday-Friday): The US\u2019s <a href=\"https:\/\/www.state.gov\/summit-for-democracy\/\">Summit for Democracy<\/a>. Egypt is not among the invitees.<\/p>\n<p>9-12 December (Thursday-Sunday): The <a href=\"https:\/\/www.woodshowglobal.com\/cairo\">6th Edition of Cairo Woodshow<\/a>, Cairo International Convention Centre, Cairo, Egypt.<\/p>\n<p>10 December (Friday): Capmas will release November inflation figures.<\/p>\n<p>10 December (Friday): Silicon Waha\u2019s <a href=\"https:\/\/bit.ly\/3FATsAa\">Startup Factory<\/a> program kicks off in Assiut Technology Zone.<\/p>\n<p>12 December (Sunday): Raya Holding\u2019s Ordinary General Assembly meeting.<\/p>\n<p>12 December (Sunday): Deadline to apply to the <a href=\"https:\/\/www.mckinsey.com\/forward\/locations\/middle-east\">McKinsey Forward<\/a> program for young professionals.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>14 December (Tuesday): Inquiry session for the <a href=\"https:\/\/alborsaanews.com\/2021\/11\/21\/1483299\">Industrial Development Authority<\/a>\u2019s licenses to manufacture steel products.<\/p>\n<p>14 December (Tuesday): CDC event to announce the details of its 2022-2026 strategy period.<\/p>\n<p>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>15 December (Wednesday): Deadline for joint stock companies and investment companies in Cairo to join e-invoicing platform.<\/p>\n<p>15 December (Wednesday): Target date for snackmaker Edita to wrap up due diligence on its acquisition of the Ole brand owner Egyptian Belgian Company.<\/p>\n<p>15 December (Wednesday): The European Bank for Reconstruction and Development will give its final approval for a USD 100 mn facility to state-owned Banque Misr to finance local SMEs working on green projects.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>End of 4Q2021: EdVentures plans to have closed at least one more edtech investment round.<\/p>\n<p>End of 4Q2021: Fawry plans to have launched its MyFawry card.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>1H2022:: e-Aswaaq\u2019s tourism platform will roll out its ticketing and online booking portal across Egypt.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>1Q2022: Swvl acquisition of Viapool expected to close.<\/p>\n<p>Second Half of January: Egypt <a href=\"https:\/\/alborsaanews.com\/2021\/11\/23\/1483989\">will host<\/a> the Egyptian-Bahraini Joint Committee.<\/p>\n<p>The end of January: The Egyptian-Romanian business forum will take place with the aim of strengthening joint investment relations.<\/p>\n<p>1 January 2022 (Saturday): Capital gains tax comes into effect on the EGX for local investors.<\/p>\n<p>1-15 January 2022 (Saturday-Saturday): Qualified Industrial Zones (<a href=\"https:\/\/www.trade.gov\/qualifying-industrial-zones\">QIZ<\/a>) Joint Committee. <sup><\/sup><\/p>\n<p>7 January 2022 (Friday): Coptic Christmas.<\/p>\n<p>10-13 January 2022 (Monday-Thursday): <a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a>, Sharm El Sheikh.<\/p>\n<p>15 January (Saturday): Target date for the finalization of snackfood giant Edita\u2019s acquisition of the Egyptian Belgian Company, owner of the Ole brand.<\/p>\n<p>17-19 January 2022 (Monday-Wednesday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/en-gb.html\">World Future Energy Summit<\/a>, Abu Dhabi.<\/p>\n<p>27 January 2022 (Tuesday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>11 February 2022 (Friday): <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">Deadline for Anghami SPAC merger<\/a>.<\/p>\n<p>11-13 February (Friday-Sunday) FIBA Intercontinental Cup, Cairo.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>15 February 2022 (Tuesday): The Industrial Development Authority\u2019s deadline for <a href=\"https:\/\/alborsaanews.com\/2021\/11\/21\/1483299\">receiving offers<\/a> from companies for licenses to manufacture steel products.<\/p>\n<p>19 February 2022 (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>March 2022: 4Q2021 earnings season.<\/p>\n<p>March 2022: World Cup playoffs.<\/p>\n<p>2 April 2022 (Saturday): First day of Ramadan (TBC).<\/p>\n<p>4 April 2022 (Monday): CDC Group will formally change its name to British International Investment.<\/p>\n<p>22-24 April 2022 (Friday-Sunday):<a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>24 April 2022 (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April 2022 (Monday): Sham El Nessim.<\/p>\n<p>25 April 2022 (Monday): Sinai Liberation Day.<\/p>\n<p>Late April - 15 May 2022: 1Q2022 earnings season<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>2 May 2022 (Monday): Eid El Fitr (TBC).<\/p>\n<p>16 June 2022 (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June 2022 (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>8 July 2022 (Friday): Arafat Day.<\/p>\n<p>9-13 July 2022 (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July 2022 (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August 2022: 2Q2022 earnings season.<\/p>\n<p>6 October 2022 (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October 2022 (Saturday): Prophet Muhammad\u2019s birthday.<\/p>\n<p>18-20 October 2022 (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>Late October - 14 November 2022: 3Q2022 earnings season.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":555861,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-555860","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f11d3c57-82b2-440f-9ece-10dc529ea60b","teaser":"","photo_url":"https:\/\/ent.news\/2021\/11\/648.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SODIC board gives nod to Aldar \/ ADQ acquisition bid - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SODIC board gives nod to Aldar \/ ADQ acquisition bid\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T01:04:24+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/648.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/\",\"name\":\"SODIC board gives nod to Aldar \/ ADQ acquisition bid - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/648.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2021-11-30T04:02:28+00:00\",\"dateModified\":\"2025-12-16T01:04:24+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/648.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/648.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"SODIC board gives nod to Aldar \/ ADQ acquisition bid\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"SODIC board gives nod to Aldar \/ ADQ acquisition bid - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/","og_locale":"en_US","og_type":"article","og_title":"SODIC board gives nod to Aldar \/ ADQ acquisition bid","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T01:04:24+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/648.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/","name":"SODIC board gives nod to Aldar \/ ADQ acquisition bid - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/648.jpg?fit=%2C&ssl=1","datePublished":"2021-11-30T04:02:28+00:00","dateModified":"2025-12-16T01:04:24+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/648.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/648.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/sodic-board-gives-nod-to-aldar-adq-acquisition-bid\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"SODIC board gives nod to Aldar \/ ADQ acquisition bid"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555860\/revisions"}],"predecessor-version":[{"id":555895,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555860\/revisions\/555895"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555861"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}